Bond yields edged higher on account of weakness of Indian currency mainly after Finance Minister’s order of being prepared for US tapering to regulators. Finance Minister P Chidambaram has asked financial sector regulators, including RBI and SEBI, to take preventive steps to neutralise the impact of US Federal Reserve's monetary stimulus tapering that is likely early next year. However, the downside was capped on account of prevailing caution ahead of RBI’s mid-quarterly policy review next week.
On the global front, U.S. Treasury yields edged up from three-month lows on Thursday as buying tied to the view the Federal Reserve will not shrink its bond-purchase program until next year faded. Meanwhile, Brent futures held near $107 a barrel on Friday on expectations that demand in top consumers China and the United States will recover, but easing concerns about supply from the Middle East kept the gains in check.
Back home, the yields on 10-year 7.16% - 2023 bonds, were trading 2 basis points higher at 8.60% from its previous close of 8.58% on Thursday.
The benchmark five-year interest rate swaps were trading 1 basis point higher at 8.24% from its previous close of 8.23% on Thursday.
The Government of India have announced the sale (re-issue) of "1.44% Inflation Indexed Government Stock-2023" for a notified amount of Rs 1,000 crore through price based auction. The auction will be conducted using uniform price method. The auction will be conducted by the Reserve Bank of India, Fort, Mumbai on October 30, 2013 (Wednesday).
On the global front, U.S. Treasury yields edged up from three-month lows on Thursday as buying tied to the view the Federal Reserve will not shrink its bond-purchase program until next year faded. Meanwhile, Brent futures held near $107 a barrel on Friday on expectations that demand in top consumers China and the United States will recover, but easing concerns about supply from the Middle East kept the gains in check.
Back home, the yields on 10-year 7.16% - 2023 bonds, were trading 2 basis points higher at 8.60% from its previous close of 8.58% on Thursday.
The benchmark five-year interest rate swaps were trading 1 basis point higher at 8.24% from its previous close of 8.23% on Thursday.
The Government of India have announced the sale (re-issue) of "1.44% Inflation Indexed Government Stock-2023" for a notified amount of Rs 1,000 crore through price based auction. The auction will be conducted using uniform price method. The auction will be conducted by the Reserve Bank of India, Fort, Mumbai on October 30, 2013 (Wednesday).
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